M1X Global Announces Public Launch and Oversubscribed $3 Million Angel Round to Scale On-Chain Sovereign Finance
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sovereign debtfinancial
Sovereign debt is the money a national government borrows by selling bonds or IOUs to investors to pay for public spending. It matters to investors because a government’s ability to repay influences interest income, bond prices and currency value — similar to lending someone a large mortgage: the borrower’s financial health and future income determine how safe that loan is and what return you should expect.
on-chaintechnical
On-chain describes actions or data that are recorded directly on a blockchain, a public digital ledger that creates a permanent, time-stamped record of transactions. For investors, on-chain activity provides verifiable evidence of transfers, ownership changes or automated program actions (like contract-driven payments); seeing these entries is like checking a bank statement and helps assess liquidity, settlement finality, fees, and transparency when judging risk and market behavior.
sovereign bondfinancial
A sovereign bond is a loan that investors make to a national government in return for regular interest payments and the promise to repay the principal at a set date—think of it as lending money to a country the way you might lend to a friend with an IOU. It matters to investors because its interest rate reflects the government’s perceived safety and affects borrowing costs across the economy, while price movements respond to changes in interest rates, inflation expectations and currency risk, making these bonds a key benchmark and portfolio diversifier.
collateralizedfinancial
Collateralized means a loan or financial obligation is backed by specific assets that the borrower pledges as security; if the borrower fails to pay, the lender can take those assets to recover losses. For investors, collateralization lowers the risk of loss and often leads to lower interest costs, but the value and liquidity of the pledged assets matter because weak or hard-to-sell collateral can still leave investors exposed.
universal basic incomefinancial
A universal basic income is a regular, unconditional cash payment made by a government to all eligible citizens or residents to help cover basic living costs. Investors care because it changes how much people can spend and save, can affect wages and hiring, and may influence inflation, taxes and corporate sales — like giving everyone a small, steady raise that can shift demand across the economy.
digital wallettechnical
A digital wallet is a secure electronic tool that stores your payment information, such as credit card details and bank account numbers, allowing you to make transactions online or with your mobile device. It functions like a virtual wallet in your pocket, making it easier and faster to pay without carrying physical cards or cash. For investors, it represents a key component of modern financial technology that enables quick, contactless payments and digital financial management.
capital marketsfinancial
Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.
collateralfinancial
Collateral is an asset a borrower pledges to a lender as security for a loan; if the borrower fails to repay, the lender can take the asset to recover losses. For investors, collateral matters because it reduces lender risk, influences interest rates and loan terms, and determines who gets paid first if a company faces financial trouble—think of it like a pawned item that gives the lender extra protection.
NEW YORK--(BUSINESS WIRE)--
M1X Global, a sovereign financial infrastructure and technology company, today announced its public launch alongside the close of an oversubscribed $3 million angel round. The funding, spanning strategic investments and grants, will support platform development and accelerate regulated institutional adoption of USDM1, the first USD-denominated, treasury collateralized sovereign debt instrument issued natively by a sovereign on public blockchain infrastructure.
The $3 million in funding drew participation from leading figures across global capital markets and digital asset infrastructure, including Balaji Srinivasan, former CTO of Coinbase; Tama Churchouse, CEO of Cumberland Labs; Richard Gorelick, former Head of Market Structure at DRW; and Dan Robichaud, former CIO at Intel. Institutional participation from FJ Labs and grant funding from Stellar Development Foundation reflect strong alignment between private capital and mission-driven partners advancing blockchain-based market development.
M1X Global is building infrastructure that enables governments to issue and manage financial instruments natively on-chain while maintaining compatibility with global institutional frameworks. Its flagship initiative, USDM1, developed in public-private partnership with the Republic of the Marshall Islands (RMI), provides a working example of this model. Issued directly by the government of the RMI, USDM1 is a U.S. dollar-denominated sovereign bond fully collateralized (1:1) by short-duration U.S. Treasury instruments and structured under New York law, designed to provide holders with a perfected first-priority security interest in collateral. USDM1 is not a tokenized or wrapped instrument and maintains programmable, 24/7 settlement.
USDM1 supports the world’s first nationwide Universal Basic Income program as a disbursement rail in the RMI, enabling instant delivery of funds to citizens via the Lomalo digital wallet across one of the world’s most geographically dispersed island nations.
Mark Lurie, Co-Founder and Chief Executive Officer of M1X Global, said:“M1X Global is focused on modernizing sovereign financial infrastructure for a digital, always-on capital market environment. With USDM1, we’ve demonstrated how sovereign debt can be issued as a programmable, digitally native instrument without compromising institutional standards. This funding allows us to scale that model and deepen integration across government use and institutional markets.”
Jordan Goldman, Co-Founder and COO of M1X Global, added: “USDM1 was structured to function across domestic and regulated institutional markets. As a Treasury-backed sovereign financial instrument with look-through maintained, it can serve as high-quality collateral - improving capital efficiency and optimizing balance sheet treatment across 24/7 institutional trading and financing workflows.”
Dr. Peter Dittus, former Secretary General of the Bank for International Settlements and M1X Global advisor, said:“USDM1 applies established sovereign debt principles in a digitally native format that supports institutional capital treatment. This is a critical distinction from privately issued digital dollar instruments - and one that enables broader adoption across regulated financial institutions.”
Following its public launch, M1X Global is coordinating and scaling regulated institutional use of USDM1. By combining sovereign exposure with U.S. Treasury collateralization, USDM1 introduces a new category of digitally native, collateralized sovereign debt that integrates with trading, financing, and liquidity workflows with institutional compatibility and legal certainty.
Proceeds from the round will fund expanded institutional access for USDM1, pilot programs with derivatives and capital markets participants, and continued development of M1X Global’s platform for sovereign issuers operating in 24/7 on-chain markets. M1X Global’s advisory board includes Dr. Peter Dittus supporting capital treatment and regulatory positioning and LeonMarshall, former CEO Europe at Galaxy Digital (Nasdaq: GLXY), supporting institutional distribution and market development.
ENDS
About M1X Global
M1X Global is a sovereign financial infrastructure and technology company bridging public finance and on-chain capital markets. Operating in public-private partnership with the Republic of the Marshall Islands, M1X coordinates legal, compliance, technology, custody and institutional infrastructure required to integrate sovereign digital instruments and global markets.
About USDM1
USDM1 is USD-denominated sovereign debt issued natively on-chain by the Republic of the Marshall Islands, secured 1:1 by short-duration U.S. Treasury instruments held in bankruptcy remote custody. The RMI operates exclusively on the U.S. dollar standard under its Compact of Free Association with the United States, which establishes the dollar as its sole legal tender. For more, see the government’s white-paper “Financial Access and the Path to USDM1.”
USDM1 is structured in the style of a fully collateralized Brady bond under New York law, with an explicit customary waiver of sovereign immunity. USDM1 provides holders with a perfected first-priority security interest in collateral. Unlike privately issued digital dollar instruments, USDM1 is structured as sovereign debt with collateral perfected by control under UCC, enabling compatibility with ISDA netting frameworks and supporting inclusion in ISDA netting sets. As institutional-grade collateral, USDM1 supports integration in institutional margin, repo and financing workflows and operates within existing legal, accounting, and capital frameworks, improving capital efficiency and balance sheet treatment.
Cleary Gottlieb serves as issuer's counsel and advised with respect to the structuring of the instrument under New York law with the participation of partners specializing in sovereign debt, UCC and secured transactions, creditors’ rights, netting and digital asset market infrastructure.
